Qantas Chairman Richard Goyder to Step Down Early Amid Shareholder Pressure at Woodside Energy

Qantas chairman Richard Goyder is set to leave the airline earlier than previously announced, amid shareholder pressure at Woodside Energy, where he also serves as chairman. Goyder will resign ahead of Qantas' annual general meeting, after which John Mullen will assume the role of chairman.

Mullen, who is also chairman of Treasury Wine Estates and Brambles, will start as a non-executive director and chairman-elect on Monday, months earlier than the previously announced starting date of July 1. The change in leadership at Qantas comes as Goyder faces a climate revolt and votes against his re-election for the Woodside board's refusal to do more to tackle global warming.

Qantas has announced that John Mullen, the chairman-elect, will start in the role on Monday, months earlier than the previously announced date of July 1. Goyder will resign ahead of the company's annual general meeting, after which Mullen will assume the role of chairman.

Goyder, who is the chairman of both Qantas and Woodside Energy, is facing shareholder pressure at Woodside Energy, which has prompted his early departure from the Qantas chairmanship. Woodside is facing a climate action insurrection led by proxy firm CGI Glass Lewis, which has recommended that shareholders vote against Goyder.

Why this matters: The early transition of leadership at Qantas comes amid intense public scrutiny of the airline's reputation in recent times, including allegations of illegal worker dismissals during the pandemic and the advertising of sold-out flights. The news of Mullen's fast-tracked entry to Qantas' board is seen as a move to help restore the airline's reputation and customer trust under a new leadership team.

Goyder has defended Woodside's strategy, saying that a rapid change could erode shareholder value. In a bid to fend off criticism, Goyder has stated that the Woodside board is "absolutely focused on Woodside's long-term future and strategy to thrive through the energy transition". Goyder described Mullen as the "right choice to lead the national carrier into its next phase".

Key Takeaways

• Qantas chairman Richard Goyder to leave earlier than planned amid shareholder pressure.
• John Mullen to assume Qantas chairmanship on Monday, months earlier than July 1 start date.
• Goyder faces climate revolt and votes against his re-election at Woodside Energy.
• Qantas leadership change aims to restore airline's reputation and customer trust.
• Goyder defends Woodside's strategy, says rapid change could erode shareholder value.